Fulton Bank N.A. Has $1 Million Stock Position in CSX Co. (NASDAQ:CSX)

Fulton Bank N.A. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,964 shares of the transportation company’s stock after selling 502 shares during the period. Fulton Bank N.A.’s holdings in CSX were worth $1,002,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CSX. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter worth $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in CSX in the fourth quarter valued at $34,000. Burkett Financial Services LLC bought a new stake in CSX in the fourth quarter valued at $34,000. Avion Wealth increased its stake in CSX by 450.5% in the fourth quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 820 shares in the last quarter. Finally, Tortoise Investment Management LLC bought a new stake in CSX in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

CSX traded up $0.86 during midday trading on Tuesday, reaching $33.86. The company had a trading volume of 18,679,482 shares, compared to its average volume of 11,880,532. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The stock has a market cap of $66.19 billion, a PE ratio of 18.75, a P/E/G ratio of 1.89 and a beta of 1.20. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The business has a 50-day moving average price of $33.54 and a two-hundred day moving average price of $35.04.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, sell-side analysts expect that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, August 30th. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday. Stifel Nicolaus boosted their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.73.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.